Nawaz Modi and Gautam Singhania. (Photo: Instagram/Gautam Singhania)
Earlier this month, Singhania said he had separated from his wife Nawaz, in an announcement that came amid speculation about the future of the 32-year relationship.
Amid issues in his personal life, Raymond’s chairman and managing director Gautam Singhania assured employees and board members that it was “business as usual” at the company and he was fully committed to its smooth running.
In an internal mail to employees and Raymond’s board members, Singhania, who announced his separation from his wife Nawaz earlier this month, said he chose not to comment on media reports “about matters related to my personal life”. “Maintaining the dignity of my family is most important to me”.
Also read: Gautam Singhania’s divorce battle heats up as wife demands 75% assets: Report
“However, I am determined as Chairman and Managing Director and fully committed to the smooth functioning of the company and its business. Even in these difficult times for me, I assure you that at Raymond, it is business as usual,” he emphasized in his mail.
“As you all know over the past few months, we have made significant progress towards accelerating our businesses and had the best quarter in our history on top of consistent improvements in performance over the past nine quarters.”
Recently, “We almost doubled our engineering business by entering the sunrise sector of aerospace, defense, electric vehicle components with the acquisition of MPPL (Maini Precision Products Ltd) and also awarded two marquee real estate projects in our focus market of Mumbai metropolitan area. ”, added Singhania.
Despite problems in his personal life, he said, “I am steadfast in creating and delivering value to all our shareholders and ensuring the interests of our employees, customers and other stakeholders”. When contacted, a Raymond spokesperson confirmed that it was an internal mail sent by Singhania to the company’s employees and board members.
Earlier this month, Singhania said he had separated from his wife Nawaz, in an announcement that came amid speculation about the future of the 32-year relationship. The billionaire industrialist, whose net worth is said to be over Rs 11,000 crore, announced on microblogging platform X that it was not the same Diwali as in the past.
The industrialist — who heads a multi-decade group with roots in textiles and branching out into new ventures like real estate — says Nawaz, a fitness instructor, and he have been together for 32 years as a couple.
The couple has two children, and Singhania said they grew up together during their years of companionship and were a source of strength for each other.
(This story has not been edited by News18 staff and appears from a syndicated news agency feed – PTI)
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